ALBANY – With less than an hour to spare, lawmakers in Albany have approved a state budget for the new fiscal year.
With the final budget bills being approved literally during the 11th hour Monday night, lawmakers have now delivered four on-time budgets in a row for the first time in more than forty years.
According to Gov. Andrew Cuomo’s office, the budget holds spending growth below two percent for the fourth consecutive year. It also contains $1.5 billion in property tax cuts to aid New York’s homeowners and encourage local governments to increase efficiencies, as well as a major five percent increase in State education aid.
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